At first Binary X Trader looks like a simple automated signal service. They say that no prior experience is needed to trade binary options, because their app will do it for you. It is all.
They don’t even claim that you will make money with Binary X Signal, they just say that their app will trade your account.
Binary X Trader is a scam
Let’s just take the first one on their page with the guy called Alfred Thompson. This person is a famous scammer in the binary options industry, he acted in many scams, recently he played the role of the fake Professor Justin Hudson in Gold Trade Microsystem. See the image on the right.
So if somebody asks a scammer and pay him to endorse their system, they must be scammers too. This is why we have not hesitated to say that Binary X Trader is a scam.
It obviously works the same way as all the other binary options scams. In order to use the system, you will have to first open a trading account with their broker and deposit money into it. Then you will let their app trade your money and guess what happens next? You lose your money.
But credit to these scammers, they admit that their app won’t make you money, it is written at the bottom of the page, see the second image on the right.
Binary X Trader (or Binary X Signal) is a mild binary options scam, but still a scam. If you let their app trade your account, you will lose money. It would really be a bad idea to start binary options trading with real money and no knowledge or experience.
If you want to see how binary options really work, try a free demo. Although you just need to predict the direction of the price movement, you still need learning and testing on the demo before you can start trading with real money.